Toth said the funding will go toward cultivating and attracting new talent to Zesty.ai, fostering new partnerships across the industry and increasing the InsurTech’s access to what he described as “proprietary data”.

That specialised data includes information collected by Light Detection and Ranging (LIDAR) low-flying aircrafts that can provide precise measurements of the earth’s surface, as well as property information.

“That type of data is not very easy to come by, and we have access to that data but it is not very easy to compute,” Toth said. “With this funding, we are going to double down on using this unique data source.”